My husband and I changing mortgage lender for our flat in Albany Park with . We have a son approaching twenty who lives with us. Our solicitor requested us to identify anyone over the age of 17 other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the apartment is forfeited by the lender. I have a couple of questions (1) Is this form unique to the conveyancing panel as he did not need to sign this form when we bought 3 years ago (2) Does our son by signing this giving up his entitlement to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to . This is solely used to protect if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
We see that you have a search directory identifying law firms on the conveyancing panel. Do firms pay you a commission if I retain them for our own conveyancing in Albany Park?
We are a listing service only for law firms wishing to communicate if they are on the conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Albany Park.
This question may be naive but I am unexperienced as FTB of a ground floor flat in Albany Park. Do I receive the keys to the premises on the completion date from my solicitor? If so, I will appoint a local conveyancing solicitor in Albany Park?
On the day of completion you will not be required to attend the conveyancers office in Albany Park. Your solicitors will electronically transfer the purchase money to the seller's solicitors, and shortly after the monies have arrived, you will be called to pick up the keys from the Estate Agents and start moving into the property. Usually this occurs between 1 and 3pm.
Is it the case that all Albany Park solicitor practices on the conveyancing panel are governed by the SRA?
As solicitors, in order to be on the approved list of solicitors they would need to be governed by the Solicitors Regulatory Authority. Many mortgage companies do permit licenced conveyancers on their panel in which case such practice would be regulated by the Council of Licensed Conveyancers.
My wife and I have organised a further advance on our mortgage from as we wish to carry out alterations to our property in Albany Park. Do we need to choose a high street Albany Park solicitor on the conveyancing panel to deal with the legals?
do not ordinarily appoint firms on their approved list of lawyers to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the panel.
Due to the guidance of my in-laws I had a survey completed on a property in Albany Park prior to appointing solicitors. I have been advised that there is a flying freehold element to the house. My surveyor advised that some banks will not grant a mortgage on a flying freehold property.
It depends who your proposed lender is. Santander has different requirements for example to Nationwide. If you e-mail us we can look into this further via the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Albany Park. Conveyancing may be slightly more expensive based on your lender's requirements.
What makes your site different to other online quote calculators for conveyancing in Albany Park?
At this site get a fixed fee costs illustration via a Solicitor or Licensed Conveyancer that appreciates the nuances of your conveyancing in Albany Park. Unlike many estate agents and many comparison sites we do not charge firms a commission if you choose them for your conveyancing in Albany Park